UBS Group reaffirmed their buy rating on shares of HP (NYSE:HPQ) in a research note issued to investors on Friday, February 23rd, www.benzinga.com reports. UBS Group currently has a $28.00 price objective on the computer maker’s stock, up from their prior price objective of $26.00.
A number of other brokerages also recently issued reports on HPQ. Maxim Group boosted their price target on shares of HP from $25.00 to $27.00 and gave the stock a hold rating in a research report on Friday, February 23rd. Barclays downgraded shares of HP from an overweight rating to an equal weight rating and set a $23.00 target price on the stock. in a research report on Wednesday, January 17th. Zacks Investment Research downgraded shares of HP from a hold rating to a sell rating in a research report on Thursday, January 25th. Guggenheim reiterated a hold rating on shares of HP in a research report on Tuesday, February 20th. Finally, BMO Capital Markets reiterated a market perform rating and set a $24.00 target price (up previously from $23.00) on shares of HP in a research report on Friday, February 23rd. Twelve equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. HP presently has an average rating of Buy and a consensus price target of $23.94.
Shares of HP (NYSE HPQ) opened at $23.62 on Friday. The company has a market cap of $39,113.94, a P/E ratio of 13.62, a P/E/G ratio of 2.07 and a beta of 1.69. HP has a 1 year low of $17.03 and a 1 year high of $24.75. The company has a current ratio of 0.91, a quick ratio of 0.67 and a debt-to-equity ratio of -2.31.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 4th. Stockholders of record on Wednesday, March 14th will be issued a $0.1393 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend is Tuesday, March 13th. HP’s payout ratio is 24.45%.
In other news, insider Enrique Lores sold 302,893 shares of the stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $23.31, for a total value of $7,060,435.83. Following the sale, the insider now directly owns 88,901 shares of the company’s stock, valued at $2,072,282.31. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Shumeet Banerji sold 35,686 shares of the stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $21.50, for a total transaction of $767,249.00. Following the completion of the sale, the director now directly owns 28,000 shares in the company, valued at $602,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 591,385 shares of company stock worth $13,289,138. Insiders own 0.25% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Advisors Preferred LLC increased its position in shares of HP by 1,153.0% in the fourth quarter. Advisors Preferred LLC now owns 4,774 shares of the computer maker’s stock worth $100,000 after purchasing an additional 4,393 shares during the last quarter. BB&T Investment Services Inc. increased its position in shares of HP by 94.0% in the fourth quarter. BB&T Investment Services Inc. now owns 5,038 shares of the computer maker’s stock worth $108,000 after purchasing an additional 2,441 shares during the last quarter. Sandy Spring Bank increased its position in shares of HP by 439.8% in the fourth quarter. Sandy Spring Bank now owns 5,236 shares of the computer maker’s stock worth $110,000 after purchasing an additional 4,266 shares during the last quarter. Pinnacle Wealth Planning Services Inc. bought a new position in shares of HP in the fourth quarter worth approximately $111,000. Finally, Virtue Capital Management LLC bought a new position in shares of HP in the fourth quarter worth approximately $117,000. Institutional investors own 80.59% of the company’s stock.
HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.
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